Beijing, Aug 4 (IANS) China hopes that the Trans-Pacific Partnership (TPP) can be transparent, open and contribute to free trade and investment along with other arrangements in the region.
Shen Danyang, spokesman with the ministry of commerce said China has been closely watching TPP negotiations and assessing the progress, Xinhua reported.
Trade representatives from 12 Pacific Rim countries failed to reach a final deal after a four-day TPP ministerial meeting held in the US that ended on Friday.
The TPP talks involve Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam.
Shen said China noticed the failure and hopes that the TPP will stay transparent and open.
“TPP and other free trade frameworks in the region should promote each other to jointly contribute to the liberalisation and facilitation of trade and investment,” he said.
TPP is one of the most important free trade agreements in the Asia-Pacific region. The deal, if reached, will have huge effects on world trade and the investment framework and economic integration in the region.